24 January 2012 5:59 PM

Mitt Romney gave millions to charity. Joe Biden gave $369.

I'm really struggling to work out what all the fuss is about over this one. It seems to me to be much ado about nothing. Breaking news: Mitt Romney is very rich. He also gave millions and millions of dollars to charity and to the taxman.

In the early hours of this morning, some 550 pages of Mitt Romney's tax returns and a 2011 tax summary were released by his campaign. Just after dawn, there was a long campaign conference call for bleary-eyed reporters in which an accountant (who sounded exactly like you'd imagine Mitt Romney's accountant would sound) went into details of Mitt millions in mind-numbing detail.

There was an air of grumpy efficency about the call, which was led by Ben Ginsberg, who was George W. Bush's lawyer during the Florida election recount in 2000. At one point Ginsberg noted that 26 people from Chicago were listening into the proceedings, a reference to the Obama campaign headquarters.

So what were the headlines? He raked in about $42 million in 2010 and 2011. His effective tax rate was just below 14 percent, lower than that for many American taxpayers. He paid $6.2 million to the taxman and donated a staggering $7 million to charity, including $4.1 million to the Mormon church.

OK, so Mormons are supposed to tithe 10 percent of their income. But it's to Romney's immense credit that he promised to do this in his youth and followed through with that - to the tune of scores of millions (maybe hundreds of millions) of dollars throughout his life.

And what about President Barack Obama and Vice President Joe Biden in the run-up to their 2008 campaign?

USA Today broke it down here. In 2007, the Obamas gave more than $240,000 to charity, about 5.7 percent of their income. The Bidens gave an average of $369 to charity a year for the decade before he moved to the Naval Observatory - about 0.3 percent of their income. Back in 1997, then veep Al Gore and his then wife Tipper gave $353.

Since becoming veep, Biden hasn't become much more generous. In 2010, he gave $5,350, about 1.4 percent of income. That same year, Romney gave some $3 million. The national average is about three percent.

As far as we know, Romney scrupulously adhered to all US tax laws. No one has accused him of tax evasion.

What we hear is: Funds in the Cayman Islands! Swiss bank account!

So will all this hurt Romney politically? The Obama campaign and White House clearly thinks so. An Obama guest for tonight's State of the Union will be Warren Buffett's secretary, a crude nod to the familiar Democratic trope about the secretary being subject to higher tax rates than Buffett himself.

Much of the media also thinks so. Covering the story, CNN made repeated use of the term "the one percent" - a blatant assimilation of the cry from the Occupy Wall Street movement.

In Britain and much the rest of Europe, immense personal wealth often breeds resentment. In the United States, not so much. Certainly, Americans want economic fairness and equal opportuity. But belief in capitalism and the notion that by striving hard you too can become wealthy remain are enduring American traits.

Last week, Romney was stunningly inept in his handling of questions about his tax returns, humming and hawing, prevaricating, stonewalling and then finally, in defeat in South Carolina, agreeing to release documents.

Now he's done what he should have done earlier (politically-speaking - he's releasing returns much earlier than any other candidate previously in modern times) this is going to fade away as an issue for most voters.

Democrats will try to foment resentment about Romney's wealth. And certainly some people will never want to vote for a fat cat rich guy. But if Obama strategists think they it can win a re-election battle on a platform of class warfare they're very much mistaken.

it is July 19th, and this issue of his tax returns still remains a distracting topic in this election. And Ann Romney appearance on national TV (ABC) today certainly did not help the cause. What do you think Toby ?

Oh please. Of course he donates its a tax right off! And most of his donations went to the morman church. God people in this country are nothing but ignorant lemmings! Maybe if the repugnant party would do more for the masses instead of only the wealthiest of the wealthy we wouldn't need charity!

Fat Cats? LOL..60% of the wealthiest people in the U.S.( top 100 )are Democrats.They know Romney hasn't a tenth of the wealth they have.Obama is a millionaire, on taxpayers money! I'm sure after he loses in November.Every publisher..News Outlet..even the UN will want him..so he's not worry, one way or the other, but he would like to finish destroying America, before he steps down.Besides Romney made his own through investments, business and books.He's just plain smart!

These comments seem rude and largely incorrect. "Liberals" are more likely to work in service jobs - nonprofits, social service, etc. In other words, they dedicate their life's work to helping other people. To hail someone who keeps $14 million for his own personal needs as generous while disparaging people whose very jobs are dedicated to helping people is unreasonable and unintelligent. And to think a religious institution, which will invest most of its funds on new lavish churches than helping the poor, is charity is ludicrous. Liberals think the government has a responsibility to help the weakest in society get back on their feet. Because individuals do not give generously enough to do so.

Give Joe a break. This poor man is so stupid that he would be living under a bridge if it were not for the fact that he was elected to public office. My guess is that he didn't realize he had donated that money but instead thought he was paying the bill at a restaurant.

Truth is he is better forcing others to give away their money than giving his own away.

$369 Joe?
Both my wife and I are permanently disabled and we give more than $369 a year as tips to waitresses, waiters and pizza delivery people. And believe me, we don't receive what the U S Government pays you to be the official village idiot, don't receive free housing at the Naval Observatory and my wife isn't a Doctor!
Joe, you make Ebeneezer Scrooge look like the most magnanimous man in the World.

I was upset that Romney hemmed and hawed at the debates concerning his taxes. Gingrich did rule the day in South Carolina and the primary lost because Romney looked like he was dodging, which made him look guilty of something afoul. I could only reason that perhaps Romney was hoping that he could say at some future date when facing Obama,"I will release my taxes, if you will release your records concerning your school finances and multiple other records Obama has spent millions in keeping sequestered". Not that this was his intent, but I thought how hypocritical for the press to harp all over Romney's reluctance and yet give a bye to Obama and his reluctance.

In the end, I am glad that Romney released the records. There is no shame in his ability to earn millions and pay an honest tax on that income. There was no tax dodging or anything illegal, just smart use of the tax system and a disclosure of his generosity to his church and those other organizations that are charitable to those that have less. The appalling story is Obama/Biden giving less then $500 in the year prior to their elections. I gave over $4200 in charitable contributions last year and I only make $23K a year. Shame on Obama and shame on Biden!

Don't we want someone who is very successful showing us the way? The whole issue with this country is our leaders can not do the math and we are drowning in debt. I don't want someone in the White House who is under water on his mortgage and getting his car repossessed. Lets get back to the America that I grew up in that we cheer success and expect the same of ourselves.

It was the same thing with Cheney. He gave millions to charity, but the media will conveniently forget that and try to fabricate something else. Kerry was about as generous as Biden and after watching the news about the 2, you come away thinking the Cheney kicks puppies and Kerry gave a kidney and part a his liver to save a homeless leper.

If you look back in recent history ,you will see that all the democratic presidents and vice presidents give less than most middle class citizens do to charity,Hell Bill Clinton even claimed his old underwear on his income taxes,While republican presidents and vice presidents have given tens of millions over the same time period.
Action speaks louder than words.

Well, Drudge really likes the Republicans (Is not new). Yea Romney gave a couple of millions here and mostly to his Mormon church and related charities but that's how the members of that religion rolls. He is a business men not a politician, he knows how taxes work even after his big breaks and of course he knows what he is doing so all you guys that are tired of the current administration (after all the crap this current one inherited of the previous 8 years when that current president let all his buddies run loose getting any loose penny of the middle class) and for all of you that almost completly "UN INFORMED" of what is really happening in Washington can get their crocodile tears and support for the upcoming elections. One thing I know for sure is that our current president does not like to dance at the mambo jumbo song beat of the republicans. It is oviuos that our president any time he does something positive or pass any bills in favor of the 98% of the American people does not makes a big deal and that is called "Work Ethics" where you DO YOUR JOB and move on with out a fuss. Lastly here comes the shocker all of you holding seats your time of internal trading and bi partisan under the table lobbyists will soon come to an end SO YOU GUYS CAN REALLY FOCUS ON THE BEST INTEREST OF THE AMERICAN PEOPLE AND NOT YOUR DIRTY POCKETS come on let's do politics and look after each other and the rest of the nation for a solid future.

Biden and I have something in common, both practicing Catholics. My Faith leads me to share what I have received as, what I describe, a gift from God. I make $85,000 per year and give 10 percent to my parish and other charities. I am also a confirmed Republican, for the Democrates embody everything contrary to my Faith. My co-Catholics will have much to answer for if they continue supporting the diabolic aspirations of liberalism.

It looks like the only way to pry some money out of the wallets of democrats (once the moths have flown away) is to TAX campaign dinners, bribes and foreign aid. You know ... the money from the overseas interests that buys favorable foreign policy.

Something doesn't add up. Biden claims to be a practicing Catholic, which I don't dispute. A practicing Catholic would attend mass on Sunday, or certainly most Sunday's. His charitable giving totals $7 a week into the collection basket.

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TOBY HARNDEN

Toby Harnden is a US Executive Editor of Mail Online and the Daily Mail’s US Editor. A British citizen by birth and American citizen by choice, he is based in Washington DC and has reported on the US politics for more than a dozen years. He became a journalist after serving as a Royal Navy officer and has covered the Iraq and Afghanistan wars as well as being imprisoned in Zimbabwe. More details are on his website here. You can email him at toby.harnden@dailymail.co.uk, follow him on Twitter @tobyharnden and on Facebook. He is the author of the bestseller Dead Men Risen: The Welsh Guards and the Defining Story of Britain's War in Afghanistan.